Reported about 17 hours ago
Amazon's shares rose over 11% after its cloud unit, AWS, reported a 20% revenue increase, alleviating concerns about its competitive position in the AI sector. As AWS capitalizes on strong demand for AI and infrastructure, analysts see this as a potential turnaround for Amazon, which is now outpacing rivals like Microsoft Azure and Google Cloud in absolute revenue. The company's retail and advertising sectors also performed well, with retail sales growing 11% year over year.
Source: YAHOO